Enbridge Reports Strong Growth and New Projects
Enbridge (NYSE: ENB), a Canadian pipeline and utility company, announced it placed CA$5 billion ($3.7 billion) of growth capital projects into commercial service last year, contributing to a 4% increase in cash flow per share and enabling a 3% dividend raise. The company reported a total of CA$14 billion ($10.2 billion) in new expansions sanctioned through 2025, including major projects like the $1.4 billion Mainline Optimization Phase 1 and the $1.2 billion Cowboy Phase 1 solar facility.
Enbridge currently has a backlog of CA$39 billion ($28.5 billion) in projects that are set to come online by 2033 and is pursuing additional investments valued at more than CA$50 billion ($36.5 billion) with expectations of sanctioning another CA$10 billion to CA$20 billion ($7.3 billion-$14.6 billion) in the next two years. The company anticipates an annual cash flow growth rate of around 5% post-2026, which should sustain its dividend growth trajectory.
